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Why do oil reserve estimates vary so widely?

How much oil is in the ground? That question has been asked for 150 years at local, national, and global scales. A precise answer is unknowable because most oil exists thousands of meters below the surface of the Earth, and it can be identified and measured only after drilling extremely expensive wells. But that hasn’t stopped legions of scientists and

Why do oil reserve estimates vary so widely?

How much oil is in the ground? That question has been asked for 150 years at local, national, and global scales. A precise answer is unknowable because most oil exists thousands of meters below the surface of the Earth, and it can be identified and measured only after drilling extremely expensive wells. But that hasn’t stopped legions of scientists and

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